By GENEVIEVE CANTOR
Correspondent
THE National Bureau of Investigation (NBI) arrested a suspected member of a crime syndicate specializing on faking and distributing American dollars during an entrapment at the New Estrella Townhouse on Licuan St. on Tuesday afternoon.
The suspect, identified as Pedrito Angot Tabalon of Balongis, Balulang, this city, yielded some 43,887,456 in counterfeit US dollars.
The NBI pressed charges against him yesterday.
An inventory showed 454 pieces of fake dollar bills––85 pieces of five thousand dollars, 46 pieces of 500 dollars, 79 pieces of 100 dollars, 90 pieces of 20 dollars, 53 pieces of 10 dollars, and 91 pieces of two dollars, and 10 counterfeit one dollar bills.
NBI regional director Angelito Magno said Tabalon is believed to be a member of a “budol-budol” gang behind the rampant distribution of fake money in the city, other northern Mindanao areas, and neighboring regions.
Magno said he suspected the illegal activity was meant to raise money for the elections.
Magno said investigation showed that Tabalon’s group sells counterfeit money by bundles consisting of various dominations.
The fake five thousand dollar bills are sold at P1 thousand each, he said.
Magno said the NBI pressed charges for illegal possession of false treasury bank notes and other instruments against Tabalon.
The fake dollar bills were turned over to the Bangko Sentral ng Pilipinas.
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